Sparked by a double-digit hikes in payroll service and human resources revenues, payroll and benefits outsourcing provider Paychex Inc. said year-end profits rose 26 percent, to $464.9 million, versus fiscal 2005 for the period ended May 31.
The company, headquartered here, said its year-end systemwide revenues rose 16 percent, to $1.7 billion, compared with last year's figures, and reported that its overall client base jumped 4 percent, to 543,000.
With respect to its services units, Paychex reported that its core payroll services arm grew 10 percent to $1.25 billion, while revenues from its human resources arm leaped 29 percent, to $325 million.
Previously on WebCPA:
Paychex Q3 Profits Rise on Strong Division Performance (March 30, 2006)
Paychex Announces Exec Appointments (Jan. 20, 2006)
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